Gitennes: Unlocking Quebec's Mineral Potential in 2025
Friday, Jan 10, 2025 10:22 am ET
2min read
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Gitennes Exploration Inc. (TSXV: GIT) is gearing up for an exciting year in 2025, with a strategic focus on maximizing the discovery potential of its Quebec properties. The company has recently completed a $1.5 million private placement, bringing in new investors and providing the necessary capital to drive exploration efforts forward.
One of the key moves by Gitennes is the engagement of Mr. Martin Demers, P.Geo., an independent consulting geologist with over 25 years of experience in northern Quebec geology and mineral deposits models. Mr. Demers has been tasked with conducting an immediate desktop assessment of the Company's battery metal and gold properties in Quebec. This assessment, expected to be completed by the end of January, will provide valuable insights into the geological characteristics, mineralization potential, and exploration targets of the Company's properties. Mr. Demers' expertise and experience will be instrumental in planning and executing effective exploration programs, ultimately increasing the likelihood of success in Gitennes' exploration efforts.
While focusing on its Quebec properties, Gitennes is also evaluating potential new resource projects, as disclosed in previous recent news releases. The company's broader investment thesis involves driving shareholder value through its existing portfolio of battery metal properties (Ni, Cu, PGE, REE over 200 sq. km) and gold properties in Quebec. By evaluating these potential new resource projects, Gitennes aims to unlock additional value for its shareholders while leveraging its favorable share structure and committed new board and management team.
Gitennes' interim CEO, Mr. Jordan Potts, commented on the company's plans for 2025: "We have a highly favorable share structure, an advantage we intend to leverage to the fullest extent, and a new board and management team committed to the immediate and longer-term success of this Company both on the ground and in the market. 2025 promises to be an exciting year for Gitennes' shareholders, hence this quick injection of $1.5 million into the Company. We are focused and driven to deliver exploration success, a powerful corporate brand, and strong value to shareholders."
In addition to its exploration efforts, Gitennes has entered into an investor relations agreement with Chad Levesque Consulting (CLC). Pursuant to the Agreement, CLC will provide corporate and communications services to the Company in consideration for an aggregate amount of $6,500 per month in cash, the reimbursement of reasonable and standard travel and other expenses incurred by CLC in connection with the services performed thereunder, and the issuance of 150,000 stock options having an exercise price of $0.42 and expiring on January 7, 2030. The stock options shall vest over 12 months with no more than 1/4 of the options vesting in any 3-month period, in accordance with the terms of the Company's stock option plan. The term of the Agreement is for a period of one year, with either Gitennes or CLC having the option to terminate the Agreement with 30 days' notice following completion of the Initial Term.
Gitennes Exploration Inc. currently has two properties in the Sept-Iles region of Quebec, where it is exploring for nickel, niobium, and tantalum, and three gold properties in the Chapais-Chibougamau area of Quebec: New Mosher, JMW, and Maxwell. All properties are 100% owned by Gitennes, except for New Mosher, which is under an option agreement whereby Gitennes can earn an initial 70% and has the right to increase its ownership to 85%.
With a strong focus on unlocking the potential value of its Quebec mineral assets and a commitment to delivering exploration success, a powerful corporate brand, and strong value to shareholders, Gitennes Exploration Inc. is poised for an exciting year in 2025.